Edwards Lifesciences (NYSE:EW) Updates Q2 2024 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.670-0.710 for the period, compared to the consensus estimate of 0.700. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion. Edwards Lifesciences also updated its FY 2024 guidance to 2.700-2.800 EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EW. Royal Bank of Canada upped their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research note on Monday, April 15th. Evercore ISI increased their price objective on Edwards Lifesciences from $86.00 to $92.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Wells Fargo & Company raised Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 price objective for the company in a research report on Friday, February 2nd. OTR Global raised Edwards Lifesciences from a mixed rating to a positive rating in a research report on Tuesday, March 26th. Finally, Bank of America upgraded Edwards Lifesciences from a neutral rating to a buy rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $91.73.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock traded down $0.60 on Thursday, reaching $88.01. The stock had a trading volume of 4,166,251 shares, compared to its average volume of 3,829,875. The stock has a market cap of $52.98 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 4.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38. Edwards Lifesciences has a fifty-two week low of $60.57 and a fifty-two week high of $96.12. The business’s 50-day moving average price is $90.23 and its two-hundred day moving average price is $78.69.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, sell-side analysts forecast that Edwards Lifesciences will post 2.76 EPS for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Heisz Leslie Stone sold 7,056 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $86.45, for a total transaction of $609,991.20. Following the sale, the director now directly owns 26,980 shares in the company, valued at approximately $2,332,421. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The disclosure for this sale can be found here. Insiders have sold 194,004 shares of company stock worth $17,166,254 in the last ninety days. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.